MOU signed with subsea equipment company OneSubsea in the offshore CCS domain
Toyo Engineering Corporation (TOYO) and SLB OneSubsea have signed an MOU to explore subsea CCS (Carbon Capture and Storage) projects in Japan and Southeast Asia, integrating surface and subsea technologies.
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Signing ceremony held on February 11 at TOYO's Tokyo office
From the left: Katsuhiro Nishizawa, General Manager (title at the time), Carbon Neutral Division, TOYO; Mr. Hongkun Dong, Regional Director, Sales & Commercial, Asia, SLB OneSubsea
Toyo Engineering Corporation (President and CEO: Eiji Hosoi, hereafter TOYO) has signed an MOU with SLB OneSubsea (hereafter OneSubsea)*, a leading company in the subsea equipment sector, to explore collaboration opportunities in offshore CCS (subsea CO2 storage).
Through this MOU, both companies will fuse their respective strengths to aim for more optimal and highly feasible system proposals, primarily focusing on offshore CCS projects in Japan and the Southeast Asian region.
CCS is positioned as an effective measure for achieving carbon neutrality. Globally, many geological formations capable of storing CO2 safely over the long term are located under the seabed, making a comprehensive approach integrating surface and subsea equipment essential for the future expansion of CCS.
However, offshore storage handling massive amounts of CO2 on a commercial scale poses unique technical challenges specific to offshore CCS, such as the safe transportation and injection of CO2, as well as advanced operation and maintenance.
TOYO has strengths in optimizing the entire value chain (CO2 separation/capture, transportation, and storage), which forms the series of CCS processes, and in the engineering of surface facilities. Meanwhile, OneSubsea boasts a global track record in subsea technologies, including subsea production and processing systems. By collaborating, the two companies believe it will be possible to propose optimal offshore CCS systems tailored to diverse customer needs and project conditions.
The main collaboration details based on this MOU are as follows:
Points of the MOU
In the offshore CCS domain:
- Exploring collaboration opportunities and jointly evaluating marketing strategies
- Jointly evaluating overall optimal system designs
Moving forward, we will first proceed with proposal activities targeting various CCS projects, primarily in Japan and Southeast Asia, to solve customers' technical challenges regarding the safe transportation, injection, and storage of CO2. By pooling their expertise and technologies, TOYO and OneSubsea aim to realize the provision of new value in the offshore business sector.
* SLB OneSubsea is a leading company in the subsea equipment sector, established by SLB, Aker Solutions, and Subsea7, with headquarters in Norway and the United States.
TOYO excels in surface facilities for separation and capture, while OneSubsea excels in subsea equipment for the storage portion.
About TOYO
Founded in 1961, Toyo Engineering Corporation (TOYO) is a comprehensive engineering company that has built a global network and provided engineering services and plant construction to customers in over 60 countries. Centered around its founding chemical fertilizer sector of ammonia and urea, it has refined its unique technologies and expanded its business fields into diverse areas such as petrochemicals, oil and gas processing, resource development, and power generation. Furthermore, under the mission of 'Engineering for Sustainable Growth of the Global Community,' TOYO aims to realize a sustainable society, introducing environmentally friendly solutions and the latest technologies to tackle the realization of a decarbonized society. https://www.toyo-eng.com/jp/ja/
TOYO Signs MOU with SLB OneSubsea on Subsea CCS Collaboration
Exploring Strategic Collaboration in the Subsea CCS Sector
Signing ceremony held on February 11 at TOYO’s Tokyo office
From the left: Katsuhiro Nishizawa, General Manager (title at the time), Carbon Neutral Division, TOYO; Mr. Hongkun Dong, Regional Director, Sales & Commercial, Asia, SLB OneSubsea
From the left: Katsuhiro Nishizawa, General Manager (title at the time), Carbon Neutral Division, TOYO; Mr. Hongkun Dong, Regional Director, Sales & Commercial, Asia, SLB OneSubsea
Toyo Engineering Corporation (President and CEO: Eiji Hosoi, hereafter TOYO) has signed an MOU with SLB OneSubsea (hereafter OneSubsea)*, a leading company in the subsea equipment sector, to explore collaboration opportunities in offshore CCS (subsea CO2 storage).
Through this MOU, both companies will fuse their respective strengths to aim for more optimal and highly feasible system proposals, primarily focusing on offshore CCS projects in Japan and the Southeast Asian region.
CCS is positioned as an effective measure for achieving carbon neutrality. Globally, many geological formations capable of storing CO2 safely over the long term are located under the seabed, making a comprehensive approach integrating surface and subsea equipment essential for the future expansion of CCS.
However, offshore storage handling massive amounts of CO2 on a commercial scale poses unique technical challenges specific to offshore CCS, such as the safe transportation and injection of CO2, as well as advanced operation and maintenance.
TOYO has strengths in optimizing the entire value chain (CO2 separation/capture, transportation, and storage), which forms the series of CCS processes, and in the engineering of surface facilities. Meanwhile, OneSubsea boasts a global track record in subsea technologies, including subsea production and processing systems. By collaborating, the two companies believe it will be possible to propose optimal offshore CCS systems tailored to diverse customer needs and project conditions.
The main collaboration details based on this MOU are as follows:
Points of the MOU
In the offshore CCS domain:
- Exploring collaboration opportunities and jointly evaluating marketing strategies
- Jointly evaluating overall optimal system designs
Moving forward, we will first proceed with proposal activities targeting various CCS projects, primarily in Japan and Southeast Asia, to solve customers' technical challenges regarding the safe transportation, injection, and storage of CO2. By pooling their expertise and technologies, TOYO and OneSubsea aim to realize the provision of new value in the offshore business sector.
* SLB OneSubsea is a leading company in the subsea equipment sector, established by SLB, Aker Solutions, and Subsea7, with headquarters in Norway and the United States.
TOYO excels in surface facilities for separation and capture, while OneSubsea excels in subsea equipment for the storage portion.
About TOYO
Founded in 1961, Toyo Engineering Corporation (TOYO) is a comprehensive engineering company that has built a global network and provided engineering services and plant construction to customers in over 60 countries. Centered around its founding chemical fertilizer sector of ammonia and urea, it has refined its unique technologies and expanded its business fields into diverse areas such as petrochemicals, oil and gas processing, resource development, and power generation. Furthermore, under the mission of 'Engineering for Sustainable Growth of the Global Community,' TOYO aims to realize a sustainable society, introducing environmentally friendly solutions and the latest technologies to tackle the realization of a decarbonized society. https://www.toyo-eng.com/jp/ja/
TOYO Signs MOU with SLB OneSubsea on Subsea CCS Collaboration
Exploring Strategic Collaboration in the Subsea CCS Sector
Signing ceremony held on February 11 at TOYO’s Tokyo office
From the left: Katsuhiro Nishizawa, General Manager (title at the time), Carbon Neutral Division, TOYO; Mr. Hongkun Dong, Regional Director, Sales & Commercial, Asia, SLB OneSubsea